煤电一体化项目财务评价指标比分析

Analysis on Financial Evaluation Index Ratio of Coal and Electric Power Integration Project

以彬长-国网能源煤电一体化项目为研究背景,提出财务指标比的概念,即煤电一体化投资项目财务指标与煤、电项目分开投资财务指标之间的比值。通过对两种项目投资方式的财务内部收益率、财务净现值、投资回收期及贷款偿还期4个主要财务评价指标比值计算分析,得出煤电一体化项目投资相较于煤、电项目分开投资指标比R{R}IRR,RNPV,RPt,RId中:RIRR,RNPV的值大于1;RPt,RId的值小于1,煤电一体化项目投资比煤、电项目分开投资在财务盈利能力、抗风险能力强,煤电一体化项目投资方案比煤、电项目分开投资方案好。

Based on the Binchang- State Grid energy coal-electric power integration project as a study background, a conception of a financial index ratio was provided and a ratio between the financial index of the coal-electric power integration investment project and the separated investment financial index of the coal and electric power projects was provided. With the calculation and analysis on the major financial evaluation index ratio of the financial internal rate of return, financial net present value, investment recovery period and loan repayment period for the two project investment modes, the coal and electric power integration project was better than the separated investment index ratio [R][RIRR, RNPV, RPt, RId ] of the coal and electric power projects obtained. The value of [RIRR] and [RNPV] was higher than 1 and the value of [RPt, RId ] was smaller than 1. The financial profitability and anti-risk ability of the coal and electric power integration project was higher in comparison with the separated investment of the coal and electric power projects. The investment plan of the coal and electric power integration project was better than the separated investment plan of the coal and electric power projects.